Tokayev orders creation of Kazakh state cryptocurrency reserve fund

Astana. Sept 8 (Interfax) - Kazakh President Kassym-Jomart Tokayev ordered the creation of a state digital asset fund in Kazakhstan based on the National Bank, which will accumulate a cryptocurrency reserve.

"The new fund will be established within the framework of the National Bank's investment corporation and will build a strategic crypto reserve comprising the most promising digital assets," Tokayev said during his annual address to the nation at a joint session of the Kazakh parliament on Monday.

It was previously reported that the National Bank of Kazakhstan is working on investing part of the gold and foreign exchange reserves and assets of the National Fund in cryptocurrency funds.